Brazil's Auction of Telebras
Is Postponed Until July 29

Dow Jones Newswires

Updated May 30, 1998 12:01 a.m. ET

BRASILIA, Brazil -- The auction of Brazilian telecommunications firm Telecomunicacoes Brasileiras SA, known as Telebras, has been postponed until July 29, Communications Minister Luiz Carlos Mendonca de Barros said Thursday.

Mr. Mendonca de Barros said that the auction date -- originally set for July 15 -- was pushed back owing to delays in finalizing concession contracts between regulatory group Anatel and the 12 Telebras units and...